of the triple-A rated Rabobank Nederland group, has entered into an agreement with SimCorp for the purchase and implementation of TMS2000, SimCorp's securities and investment management solution.
Rabo Securities will use TMS2000 for fully automated securities processing
and settlement for all financial instruments offered by Rabo Securities. The
TMS2000 solution will provide the Rabo Securities with a full Straight-through Processing (STP) environment for 20 users. The installation will be ready for production per 1 June 2003.
Rabo Securities' TMS2000 solution will be a fully integrated and automated STP solution covering the entire operational workflow of the company. The solution will ensure the most efficient and secure workflow possible covering client statements, reporting, profit/loss, position management, reconciliation, stock broking, securities administration, payments, current account management etc. In addition the solution will provide full support for the external part of the securities process with online links to Euronext, SWIFT, Omgeo etc. After the implementation of TMS2000 Rabo Securities will be one of the most STP compliant banks in Europe.
Roeland van der Plaat, IT Director of Rabo Securities says: "In our evaluation process, we have focused on finding a solution that can provide us with full STP compliance and reduce the complexity of our business processes and data management. At the same time the solution should provide important business support throughout our operations. The one vendor STP solution from SimCorp addresses all of theses issues and provides us with a coherent platform for growth".
Troels P. Jensen, Managing Director for SimCorp Benelux SA/NV adds: "Rabo
Securities' decision to go for TMS2000 is an important milestone for SimCorp's market position in The Nederlands. Rabo Securities is one of the most respected players in the market and I am convinced that the Rabo deal will highlight the potential for efficiency gains that TMS2000 offers." The licence contract with Rabo Securities NV is SimCorp's second TMS2000 order in The Netherlands. In March 2002 Mn Services, the Dutch asset manager, signed for TMS2000 for its investment management operations.